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Sep 30, 2024
Cricut Q3 2024 Earnings Report
Cricut's Q3 2024 performance reflected a decrease in revenue but an increase in paid subscribers.
Key Takeaways
Cricut reported a 4% decrease in revenue compared to Q3 2023, with total revenue reaching $167.9 million. Despite the revenue decline, the company increased its paid subscribers by 5% year-over-year, exceeding 2.8 million. Cricut maintained profitability for the 23rd consecutive quarter, reporting a net income of $11.5 million.
Revenue decreased by 4% year-over-year to $167.9 million.
Paid subscribers increased by 5% year-over-year, exceeding 2.8 million.
Platform revenue was slightly up compared to Q3 2023.
International revenue increased by 2% year-over-year and accounted for 23% of total revenue.
Cricut
Cricut
Cricut Revenue by Segment
Cricut Revenue by Geographic Location
Revenue by Segment
Platform Revenue
CapyFin.comProducts Revenue
CapyFin.comRevenue by Geographic Location
International Revenue
CapyFin.com Forward Guidance
Cricut anticipates incremental operating margin improvement for the full year and reaffirmed its commitment to long-term operating margin targets of 15-19%.
Revenue & Expenses
Visualization of income flow from segment revenue to net income